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San Diego Mortgage Rates…What to do now?

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Soon-to-be homebuyers hope to capture the best possible interest rates when applying for a mortgage loan and over the past few years, they have been lucky indeed and have snagged some extremely attractive rates. However, with the economy generally headed in a positive direction, the Federal Reserve won’t maintain low interest rates for long. While no one can be certain exactly how the mortgage interest rate picture will end up several months or a year from now, most in the know agree that rates will rise over the next twelve months…perhaps above the five percent mark as soon as the second quarter of this CY. This is a significant change from the extremely low rates seen just 12-15 months ago although even with the expected rise, rates are still very low when compared to what they were leading up to the housing bust. What is the reason that rates will be rising? … Continue reading

Posted By: Tom Mattix 11:24 AM Tuesday, February 4, 2014

What is the Impact on Interest Rates for San Diego Borrowers & Refi’s?

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In its first meeting of 2014, the Federal Open Market Committee (FOMC) yesterday voted to once again cut back on the Fed’s bond-buying program. Starting in February, the Fed will scale its monthly purchases to a combined $65B, down $10B from January’s pace and down from $85B in December. The call to taper the Fed’s purchases was the second in as many FOMC meetings. In its statement, the committee maintained a positive view of economic activity saying indicators points to growth in recent quarters. “Household spending and business fixed investment advanced more quickly in recent months, while the recovery in the housing sector slowed somewhat. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing.” The change in language strikes a more positive tone than the December statement in which the committee noted the extent of restraint “may be“ diminishing. The new Chairman, Janet Yellen noted that our plan … Continue reading

Posted By: Tom Mattix 1:37 PM Thursday, January 30, 2014

San Diego Whale Festival

Whale Days

The free San Diego Whale Festival is a family community event offering a wide variety of interactive and hands on displays to spark the interest and imagination of any child including a walk-through gray whale, live sea creatures, free face painting, a kids art mural coloring project and a giant inflated obstacle course, a trackless train and two giant bounce houses. Enjoy live music on the ”Whale of a stage”  featuring  returning festival favorite,” James Gibson Band” and  Jinnah Williams and  ”Moon Dog”, from Phoenix, AZ.  Crowds loved the past  performances from “Flamenco with Roots” a colorful and passionate local youth dance group so they will appear again, this year on the main stage! Yes, they’ll even have another SPLASH MOB   performing a bit like last year’s group who performed Thriller by Michael Jackson! Time:  11:00 am – 3:00 pm Location:  San Diego Embarcadero, 1066 N. Harbor Dr. – at the foot of Broadway   … Continue reading

Posted By: Tom Mattix 8:33 AM Friday, January 24, 2014

San Diego Real Estate Report – January 2014

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This San Diego real estate video report covers central San Diego County by providing data for 20 communities (e.g., Pacific Beach, downtown, Scripps Ranch, etc.) and within the report I will specifically address the latest data and trends for both detached and attached (condo) homes on home sales, median prices, inventory, changes from the previous month and the same month last year, interest rate trends and more. The video you are about to see is an abbreviated version of my more in-depth “Real Estate Report” which can be viewed as a printable pdf and is available online HERE.

Posted By: Tom Mattix 2:29 PM Friday, January 17, 2014

San Diego Real Estate: Purchasing a home or refinancing your existing loan? Read this!

Dollar Sign

For buyers who need to purchase a home with a loan or are planning to refinance an existing loan, expect to see some changes in the loan requirements as of January 10th. The new guidelines are being implemented under The Consumer Financial Protection Bureau’s Qualified Mortgage (QM) Program and are designed to help avoid the catastrophes which caused the housing crisis. “Guidelines” are what lenders use to prove borrowers’ ability to repay a loan and if the mortgages which lenders make do not meet the QM guidelines, the lender will be required to hold the loan as opposed to selling it to Fannie Mae and Freddie Mac. Here are a just a few of the changes that are about to go into effect: • Borrowers must have a maximum debt-to-income ratio of 43 percent. Debt-to-income ratios have already been in place but the new rules will not allow for any … Continue reading

Posted By: Tom Mattix 9:50 AM Tuesday, January 7, 2014

San Diego Real Estate Report – December 2013

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This San Diego real estate video report covers central San Diego County by providing data for 20 communities (e.g., Pacific Beach, downtown, Scripps Ranch, etc.) and within the report I will specifically address the latest data and trends for both detached and attached (condo) homes on home sales, median prices, inventory, changes from the previous month and the same month last year, interest rate trends and more. The video you are about to see is an abbreviated version of my more in-depth “Real Estate Report” which can be viewed as a printable pdf and is available online HERE.

Posted By: Tom Mattix 8:35 AM Thursday, December 19, 2013

Pacific Beach, Mission Beach & San Diego Real Estate Predicted Appreciation

Projected Cumulative Housing Value Changes, end CY 2012 thru 2018

The results of the 20th edition of Home Price Expectation Survey, which was conducted this past October, have just recently been released and I would like to share the San Diego real estate results with my readers. The survey was conducted by Pulsenomics LLC which asked 108 professional economic forecasters, real estate experts, and investment/market strategists to provide predictions for housing market growth over the next 5 years. The survey is conducted quarterly. Here are the results: * The projection for annual home value appreciation for end CY 2013 is an average of 6.7%. Again, this is for the U.S. as a whole. However, keep in mind that through last month (November) single family homes in San Diego have appreciated 16.6% over the past 12 months! * The prediction for U.S. average annual appreciation in home values for 2014 is 4.6 percent.  FYI, the Chief Economist for the California Association … Continue reading

Posted By: Tom Mattix 3:38 PM Wednesday, December 11, 2013

Housing Predictions for 2014? Here’s What Zillow Says

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I thought that it might be interesting to hear from Zillow regarding the housing predictions for 2014 and what they are expecting for the housing market during this coming year. So, here is their “take” and four “bold” predictions for 2014:  U.S. home values will increase by 3 percent  Mortgage rates will crack 5 percent  Borrowers will have easier access to a mortgage  The homeownership rate will drop to its lowest level in 20 years. Zillow’s Chief Economist, Stan Humphries, says that the more modest home value growth he predicts for 2014 reflects a more mature, stable market that will exist a year from now. “In 2014, home value gains will slow down significantly because of higher mortgage rates, more expensive home prices, and more supply created by fewer underwater homeowners and more new construction.” As the housing market resets toward more sustainable, realistic lending standards and home value appreciation expectations, Humphries … Continue reading

Posted By: Tom Mattix 9:12 AM Friday, December 6, 2013

Balboa Park December Nights: December 6th & 7th

Balboa Park December Nights

Balboa Park December Nights will take place for the 35th consecutive year on December 6th and 7th bringing families and friends together to spread the holiday joy. Balboa Park museums open their doors free of charge from 5-9 pm both evenings and more than 350,000 visitors are expected to experience the joy of San Diego’s largest free community festival. Those who attend will participate in a truly multicultural experience, enjoying food, music and entertainment from around the world. Revelers can watch top-notch musical and dance performances, enjoy delicious and diverse food choices and help spread a heavy dose of holiday cheer. Some of the more well-known traditions include food from around the globe at the International Christmas Festival at the House of Pacific Relations Cottages, the annual Santa Lucia Procession at the Plaza de California, unique gift shopping at the museum stores and with the artisans of Spanish Village, and … Continue reading

Posted By: Tom Mattix 10:41 AM Thursday, December 5, 2013

New San Diego Real Estate Listing: 1732 Grand Ave, Pacific Beach: $568,500!

Grand Ave

Would you believe a San Diego Real Estate Listing that is a short stroll to the ocean, Sail Bay, and walking distance to all PB attractions? Looking for a large and highly upgraded Pacific Beach TOWNHOME (no one above or below) w/:2BRMs; 2BAs; large 1307 SF; VIEWS; 2 large decks; solar; the absolute ultimate in storage capacity; one car garage and one assigned space; supremely private; located in a small, intimate, gated 4 unit complex; and very low HOA fees? If you are then look no further. You’ve found it! Of special note is that this charming end unit townhome is unique because the unit is at the far rear of the complex away from 100% of any noise! Our San Diego Real Estate listing is custom and pristine. Call 619-818-6442 for more details.  

Posted By: Tom Mattix 11:00 AM Wednesday, December 4, 2013

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